As a business owner, you need to insure your commercial auto insurance to not only provide the coverage you need, but to do so at an affordable price. For many business owners, the Commercial Auto Insurance cost can be a significant percentage of the total insurance expenditure each year.
Your business is unique, which is why you need to look at the different options that are available to meet your specific needs. Many businesses pay for coverage’s that may have a finite exposure at the expense of cutting corners on the liability exposure. We can tailor a policy to meet your exact need.
The basic portions of a Commercial Auto Insurance Policy are as follows:
Commercial Auto Bodily Injury Liability covers your business for accidental bodily injury caused by your vehicle. It will pay the injured party for their injuries up to the coverage limit on your policy. Legal defense costs are also included.
Commercial Auto Property Damage covers your business for accidental property damage caused by your vehicle. This portion of your policy pays for the repair of the other vehicle or any other property damage done to someone’s property. Legal defense costs are also included.
Commercial Auto Comprehensive coverage will protect your company vehicles against damage by anything other than collision. Common perils covered under this coverage include broken windshield, fire, theft, collision with an animal, etc. You can choose a range of deductible to assume more of this risk exposure in return for a lower cost.
Commercial Auto Collision coverage will pay for the repair or replacement for your vehicle. You can choose a range of deductible to assume more of this risk exposure in return for a lower cost.
Commercial Auto Uninsured/Underinsured Motorist coverage protects your business for bodily injury or property damage done to your vehicle in an automobile accident due to someone who is responsible for the accident that does not have insurance in force. You choose the limit of coverage that you desire for your business.
Commercial Auto Med-pay is a medical payment option to help pay medical expenses of the driver or any passengers that are injured while in your company vehicle regardless of who is at fault. The limit of this coverage is also chosen you by the owner of the company.
Commercial Auto Hired Auto Liability is very important to cover your business for a non-owned vehicle, unlisted vehicle you have leased, hired, rented or borrowed for incidental use in your business.
Commercial Auto Non-Owned coverage provides excess liability coverage for your business in the event an employee uses their own vehicle in the course of working for your company.